Manchester City Council has commissioned DTZ to advise on proposals for the future of New Smithfield Market in east Manchester.
The council is currently preparing the business case for redevelopment of the site and has been working with tenants to draw up proposals. DTZ will advise the council on the future prospects for the market; considering trends, drivers and good practice from elsewhere.
DTZ said it is also undertaking an economic impact assessment of potential development options following an extensive consultation with tenants and customers.
DTZ added that the market has seen very little change since its development in the 1970s and as a result the existing premises are in poor condition, resulting in rising levels of maintenance costs and undermining its competitiveness.
Furthermore, DTZ said the utilisation of land on the 34-acre site is currently inefficient, which presents an opportunity to create a new market to attract additional businesses and employment, but on a smaller footprint.
It is anticipated that approximately 7.9 acres could be freed up for alternative use in the future.
Donald Webb, director at DTZ, said: "The future of New Smithfield Market will lie in its ability to grow and diversify its fresh produce offer and develop service quality making it the centre of choice in Greater Manchester for wholesalers and their customers. Critical success factors for the project include future proofing the design to ensure maximum flexibility in responding to trends in the sector; keeping costs under control, gaining tenant buy-in to the proposals; and diversifying the product and service offer to generate more business on the site."
Lee Vallender, from Manchester City Council, added: "Manchester City Council and New East Manchester are committed to realising the potential of this important asset to the Manchester city region, and recognise the value of the market to the economy and in providing access to healthy food."